The website states: "The most important thing to understand about Juggalo culture is that it is all about family and helping each other out. By spending juggalo coins, Juggalos can be certain that their money is going to someone who is 'down with the clown'."

The creator of JuggaloCoin, who gives his name as Papa Nutt, is hoping that the currency will bolster the fan community's charity work, improve their reputation with non-Juggalos and help to make February 17 International Juggalo Day.

As previously reported, in January this year the anonymous group behind 'Coinye', a cryptocurrency inspired by Kanye West, were ordered to close down by Kanye West's lawyers.

The closure came after an original legal notice, citing gimmick infringement, which demanded the coding service hand over their website and deactivate any social media accounts associated with it.